St Louis Property Flipping Down Nearly Fifty Percent In Past Year

St Louis property flipping activity rose during the 2nd quarter of this year 6.2 percent from the first quarter, however was down 44.3 percent from a year ago, according to information just released by RealtyTrac.  During the 2nd quarter of this year, 3.2 percent of all home sales were “flips”, meaning they were purchased and then resold in an arms-length sale within 12 months.  The average gross profit on the flipped property was $39,181 down for $50,870 a year ago.

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